GOODWILL INDUSTRIES OF LORAIN COUN… - Form 990 Financial Data

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1928

Legal Domicile

Principal Officer

ALONZO VANCE

Phone

4402443174

Tax Period

2023-01-01 to 2023-12-31

GOODWILL INDUSTRIES OF LORAIN COUNTY INC, founded in 1928, is a community nonprofit that reported $6.6M in total revenue in fiscal year 2023. Revenue grew 10% year-over-year, indicating healthy expansion. Expenses of $5.9M left a modest 11% surplus.

Mission

TO HELP PEOPLE WITH DISABILITIES AND OTHER BARRIERS TO EMPLOYMENT BECOME MORE PRODUCTIVE AND INDEPENDENT COMMUNITY CITIZENS THROUGH A PROCESS OF EDUCATION, TRAINING, AND WORK SERVICES.

Program Service Accomplishments

Program 1

Expenses: $109,051

DONATED GOODS/RETAIL SALES: USABLE HOUSEHOLD ITEMS DONATED TO GOODWILL INDUSTRIES ARE SORTED AND PROCESSED BY BOTH EMPLOYEES AND CONSUMERS IN THE WORKFORCE DEVELOPMENT TRAINING PROGRAMS FOR RESALE IN GOODWILL'S SEVEN RETAIL STORES. REVENUE GENERATED FROM THE SALE OF DONATED GOODS SUPPORTS GOODWILL'S WORKFORCE DEVELOPMENT SERVICES WHICH HELPS PLACE CONSUMERS IN COMPETITIVE JOBS IN THE COMMUNITY.

Program 2

Expenses: $19,231

CONTRACTS: THROUGH SUB-CONTRACT OPPORTUNITIES WITH LOCAL BUSINESSES, GOODWILL OFFERS ON-THE-JOB TRAINING WHERE INDIVIDUALS LEARN MARKETABLE SKILLS FOR SECURING A COMPETITIVE JOB IN THE COMMUNITY...

CONTRACTS: THROUGH SUB-CONTRACT OPPORTUNITIES WITH LOCAL BUSINESSES, GOODWILL OFFERS ON-THE-JOB TRAINING WHERE INDIVIDUALS LEARN MARKETABLE SKILLS FOR SECURING A COMPETITIVE JOB IN THE COMMUNITY. GOODWILL HAS BECOME AN OUTSOURCING PARTNER THAT BENEFITS INDUSTRY, THE COMMUNITY, AND THOSE PEOPLE IN WHICH THEY SERVE.

Program 3

Expenses: $7,693

VOCATIONAL SERVICES: CONSISTENT WITH THE MISSION OF GOODWILL INDUSTRIES, THE WORKFORCE DEVELOPMENT SERVICES HELP INDIVIDUALS OVERCOME BARRIERS TO EMPLOYMENT. GOODWILL EMPOWERS THEM WITH EDUCATION...

VOCATIONAL SERVICES: CONSISTENT WITH THE MISSION OF GOODWILL INDUSTRIES, THE WORKFORCE DEVELOPMENT SERVICES HELP INDIVIDUALS OVERCOME BARRIERS TO EMPLOYMENT. GOODWILL EMPOWERS THEM WITH EDUCATION, TRAINING, AND JOB SKILLS TO BECOME COMPETITIVELY EMPLOYED. GOODWILL HAS RECEIVED A 3-YEAR ACCREDITATION, WHICH IS THE MAXIMUM TERM ALLOWED FROM THE COMMISSION ON ACCREDITATION OF REHABILITATION FACILITIES ("CARF"). THIS ACCREDITATION WAS RENEWED IN 2022.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $4,269,058

Program Service Revenue $864,795

Investment Income $8,812

Other Revenue $1,493,578

TOTAL REVENUE $6,636,243

Expense Breakdown

Grants Paid $0

Salaries & Benefits $3,777,773

Fundraising Expenses $46,177

Program Expenses $5,364,421

Other Expenses $2,105,910

TOTAL EXPENSES $5,883,683

Year-over-Year Comparison

	2023	2022	Change
Revenue	$6,636,243	$6,014,952	+0.1%
Expenses	$5,883,683	$5,164,736	+0.1%
Net Income	$752,560	$850,216	-0.1%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

328

Volunteers

N/A

Governance Policies

✗ Conflict of Interest Policy

✗ Whistleblower Policy

✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$203,071

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ALONZO VANCE	PRESIDENT &	40.00	Officer	$111,953	$0	$111,953
TAMMY DAVID	DIRECTOR OF	40.00	Officer	$91,118	$0	$91,118
SUSAN BUNGARD	TRUSTEE	N/A	Director	$0	$0	$0
JOHN FUNDERBURG	TRUSTEE	N/A	Director	$0	$0	$0
MIKE GERGELY	TRUSTEE	N/A	Director	$0	$0	$0
AMANDA OBERG	TRUSTEE	N/A	Director	$0	$0	$0
TIM STURSA	TREASURER	N/A	Officer Director	$0	$0	$0
CHRISTINE TAYLOR	TRUSTEE	N/A	Director	$0	$0	$0
MITCHELL ROMEO	VICE CHAIR	N/A	Officer	$0	$0	$0
PHIL SEGUIN	PAST CHAIR	N/A	Officer	$0	$0	$0
HAVA VILLAVERDE	SECRETARY	N/A	Officer	$0	$0	$0
MICHAEL ZADEL	CHAIR	N/A	Officer	$0	$0	$0

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2023	$6,636,243	$5,883,683	$8,143,111	$752,560
2022	$6,014,952	$5,164,736	$7,826,223	$850,216
2020	$4,596,320	$3,996,886	$4,266,685	$599,434
2019	$4,479,524	$4,239,961	$3,906,953	$239,563
2018	$4,378,149	$3,871,483	$3,629,597	$506,666

GOODWILL INDUSTRIES OF LORAIN COUNTY INC